muGrid CTO Dr. Travis Simpkins will be speaking at the Critical Power Expo on Thursday, September 13, 2018 at 2 PM. His talk Optimizing Battery Sizing & Dispatching to Maximize the Economic Return of Grid-Connected Microgrids is part of the Critical Power Tech forum, and is free to attend.
The Critical Power Expo is part of The Battery Show conference running from September 11-13, 2018 at the Suburban Showcase in Novi, Michigan. It is one of the premier conferences for backup power, microgrids, and electric vehicles and drew over 5,000 attendees last year.
This video previews the talk.
Here is the abstract for his presentation.
There is growing interest in combining renewables such as wind and solar with conventional thermal generation and energy storage to form grid-connected microgrids. These distributed energy resources can be used for economic gain for most of the time, and then islanded from the main grid during the event of a power outage. They key to making microgrids economically viable is to capture revenue from multiple value streams including avoided energy purchases, demand charge reduction, providing ancillary services to the grid, and participating in demand response programs.
In this talk, we’ll show how we use mathematical optimization to determine the optimal sizing and dispatching of microgird components such that the economic return of these systems is maximized across stacked revenue streams. We’ll explain graphically how the battery serves different applications over the course of the day and year, depending on which generate the most revenue. Then we’ll show how we use stochastic modeling to quantitatively evaluate the increased resiliency that these systems provide, as well as how to effectively monetize it.
Critical Power Expo is a free conference!
This is a great time to come learn about the role that renewable energy, energy storage, and microgrids can play toward increasing the resiliency of your facility. You just need to register to secure your badge. We’re happy to be part of such an importance conference.
Connect with muGrid Analytics at The Battery Show
Dr. Simpkins will be attending the expo on Wednesday and Thursday, so contact us if you’d like to meet up and discuss how muGrid Analytics can help your organization lower your utility bills and become more resilient.